[ATOM] Approaching the S/R with strengthPrice approaching the S/R with strength. Wait for breakout and trade BOF or BPB
BOF
Is AMZN/Amazon going to be Bullish?Chart is talking itself. Now, we have witnessed a breakout, if it isn't fake and comes along with a pullback, it would go long to its 0.618 Fib RET.
Is MSFT/Microsoft BULLISH?If the price break the last Cluster, it would be highly possible to witness a great bullish trend. It might be along with a Pullback to the last cluster.
2nd chance entries (CL)Deeper look @ breakout setups.
Blindly selling Lows or buying Highs is a recipe for disaster in the long run.
But the right kind of buildup can legitimize a breakout (BO) entry. When a breakout failure (BOF) does NOT immediately make a strong move in the other direction, you've got to ask yourself -- has the power balance really shifted?
If not, it could just be another example of pressure building in the original BO direction.
** Also, take a look at the breakout entry at B (no buildup) vs D (buildup). Especially relevant for a coiling market like crude oil.
GC strong buildup ahead of breakout with FOF setupSee chart for notes.
When a breakout failure DOESN'T immediately create a strong move, ask yourself who's really in control.
BOF's can create powerful moves, but early entrants can also be proved wrong really quickly. If they are, what does that do for your narrative?
